Public Service Enterprise Group (PEG) Set to Announce Earnings on Tuesday

Public Service Enterprise Group (NYSE:PEG) will be posting its quarterly earnings results before the market opens on Tuesday, April 30th. Analysts expect Public Service Enterprise Group to post earnings of $1.26 per share for the quarter. Public Service Enterprise Group has set its FY24 guidance at $3.60-3.70 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the business earned $0.64 EPS. The company’s revenue was down 17.0% on a year-over-year basis. On average, analysts expect Public Service Enterprise Group to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $67.82 on Friday. The company’s fifty day moving average is $64.64 and its two-hundred day moving average is $62.31. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $68.39. The company has a market cap of $33.81 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 2.98 and a beta of 0.58.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,948 shares of company stock worth $511,814. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Barclays upped their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Bank of America upped their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.